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Cantu Office Supply Company received a bank statement showing a balance of 568 005 as of March 3 2013. The firm's records showed a book balance of $69.487 on March 31. The difference between th two balances was caused by the following items 1. A debit memorandum for $50, which covers the bank's collection fee for the note. 2. A deposit in transit of $3.700 3. A check for $248 issued by another firm that was mistakenly charged to Cantu's account 4. A debit memorandum for an NSF check of $6,135 issued by Wilson Construction Company, a cred customer 5. Outstanding checks: Check 3782 for $2.200, Check 3840 for $151. 6. Acredit memorandum for a 56,300 noninterest-bearing note receivable that the bank collected forth Prepare a bank reconciliation statement for the firm as of March 31. (Input all amounts as positiv values. Omit the "S" sign in your response.) Bank Reconciliation End Balance Per Bank Add: Deduct: Adjusted Balance Per Bank End Balance per Books Add: Deduct: Adjusted Balance per Books Journalize required enteries in good form with explanations: General Journal Page: J2 Description Dr.T r . 091096 Bank Reconciliation Atarrative MT3 69487

Answer 1

CANTU OFFICE SUPPLY COMPANY BANK RECONCILIATION STATEMENT March 31, 2013 Balance on bank statement Additions: Deposits in transit 3,700 cheque incorrectly charged $ 68,005 $ 3,948 Deductions for outstanding cheques Cheque # 3782 Cheque # 3840 $ $ (2,200) (151) (2,351) 69,602 Adjusted bank balance $ $ 69,487 $ 6,300 Balance in books Additions: Noninterest-bearing note collected by bank Deductions: Bank collection fee for note receivable NSF $ (50) (6,135) $ $ (6,185) 69,602 Adjusted book balance

Credit Date Mar. 31 Debit 6,300 $ 6,300 Mar. 31 General Journal Cash Notes Receivable Miscellaneous Expense Cash Accounts Receivable Cash 50 $ 50 Mar. 31 6,135 $ 6,135